https://www.taxtmi.com/caselaws?id=434705 The Tribunal ruled in favor of the assessee, holding that funds advanced by the company and promptly repaid by the assessee's family members did not qualify as loans or advances under Section 2(22)(e) of the Income Tax Act. The Tribunal directed the Assessing Officer to delete the additions made towards deemed dividends, thereby allowing the assessee's appeal. The decision was issued on February 22, 2023, in Chennai. en-us Wed, 22 Feb 2023 00:00:00 +0530 Thu, 02 Mar 2023 08:16:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434705 The Tribunal ruled in favor of the assessee, holding that funds advanced by the company and promptly repaid by the assessee's family members did not qualify as loans or advances under Section 2(22)(e) of the Income Tax Act. The Tribunal directed the Assessing Officer to delete the additions made towards deemed dividends, thereby allowing the assessee's appeal. The decision was issued on February 22, 2023, in Chennai. Case-Laws Income Tax Wed, 22 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434705